Solexel Inc., a closely held solar-panel manufacturer backed by SunPower Corp. (SPWR:US), raised $31 million in equity funding to begin commercial-scale module production.
The deal increases funds raised from investors including Kleiner Perkins Caufield & Byers, Technology Partners and DAG Ventures to $200 million, Mark Kerstens, acting chief financial officer, said today in a telephone interview.
SunPower invested in Milpitas, California-based Solexel in 2012.
Solexel makes solar cells by using silicon gas instead of growing silicon ingots in furnaces and slicing them into wafers.
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